eBay to Authenticate Luxury Jewelry

RAPAPORT... E-commerce giant eBay will expand its luxury-goods authentication
service to more than 45,000 jewelry products on its platform, it said.

Third-party authentication experts will verify the items,
which it sources from some of the site’s highest-rated vendors, the retail company said
Monday. The service, eBay Authenticate, will cover items including engagement
rings, wedding bands, and loose diamonds and gemstones ranging in price from
$250 to more than $20,000.

The platform first launched its verification service in 2017 for
luxury handbags, and extended it to high-fashion watches earlier this year. The
move to jewelry is a natural progression for the company, which sells about
50,000 jewelry items every day, and approximately one diamond ring every minute,
it said.

“eBay is home to the largest selection of luxury goods,
which includes tens of thousands of jewelry items, fine watches, and rare and
designer handbags,” said James Hendy, senior director of eBay Authenticate.
“Expanding the eBay Authenticate service provides customers an added layer of
trust and confidence as they shop for fine jewelry this holiday and beyond.”

All jewelry sold under the new certification program will be
labeled “authentically verified,” eBay added.